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IIIT-H creates seed fund network to invest in tech startups

Hyderabad, April 20, 2017: IIIT-Hyderabad today announced the creation of a seed fund network to invest in tech startups in its incubator and elsewhere. However, it did not disclose the fund size. The fund will be from a network of investors comprising of technology professionals and successful entrepreneurs, International Institute of Information Technology (IIIT)-Hyderabad said in a statement.

It will invest in early stage tech startups involved in technologies like machine learning, computer vision, robotics, AR/VR, natural language processing and other sub-domains of artificial intelligence among others, it said.

The primary source of startups will be the various accelerator programs run by the Centre for Innovation and Entrepreneurship in IIIT-H and domain specific startups and seeding initiatives that will be taken up by the Centre.

IIIT-H creates fund network to invest in startups

Additionally, regular investment pitch days will be organised to scout for interesting early stage tech startups, it said. "The venture capitalists who are senior industry leaders with extensive domain knowledge and peer networks will assist in creating a structure to support the start-ups and further enhance IIIT-H's startup ecosystem," the release said.

The seed fund is being started in conjunction with five leading investors who will help structure and govern the fund. These include Viiveck Verma, Vikrant Varshney, Ajay Jain, Anurag Garg and V V S N Raju, it said.

PTI

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